CVS Health Co. (NYSE:CVS) Shares Sold by SPC Financial Inc.

SPC Financial Inc. trimmed its position in CVS Health Co. (NYSE:CVS) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,993 shares of the pharmacy operator’s stock after selling 974 shares during the period. SPC Financial Inc.’s holdings in CVS Health were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brandes Investment Partners LP lifted its holdings in shares of CVS Health by 8.3% during the second quarter. Brandes Investment Partners LP now owns 1,653,045 shares of the pharmacy operator’s stock worth $97,553,000 after purchasing an additional 126,930 shares during the period. Regal Investment Advisors LLC lifted its stake in CVS Health by 16.4% during the 2nd quarter. Regal Investment Advisors LLC now owns 82,350 shares of the pharmacy operator’s stock valued at $4,864,000 after acquiring an additional 11,617 shares during the period. Wallace Advisory Group LLC purchased a new stake in shares of CVS Health in the 2nd quarter valued at $457,000. William B. Walkup & Associates Inc. purchased a new position in shares of CVS Health during the second quarter worth $1,269,000. Finally, Magnolia Capital Advisors LLC acquired a new position in CVS Health during the second quarter valued at $795,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI cut their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday. Barclays decreased their price target on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Wells Fargo & Company raised their price target on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Down 2.1 %

NYSE CVS opened at $61.54 on Wednesday. The business has a fifty day moving average price of $58.37 and a 200 day moving average price of $61.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market cap of $77.26 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.81 and a beta of 0.53. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. Research analysts anticipate that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.32%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.